After hovering near flat line in morning trade, key equity indices bounced back in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 101.02 points or 0.29% at 35,243.01. The Nifty 50 index was up 21.30 points or 0.20% at 10,597.60. Most metal and FMCG shares advanced.
Among secondary barometers, the BSE Mid-Cap index was up 0.17%. The BSE Small-Cap index was down 0.03%.
The market breadth, indicating the overall health of the market, was negative. On BSE, 931 shares rose and 1249 shares fell. A total of 109 shares were unchanged.
Most metal shares rose. Jindal Steel & Power (up 1.31%), Hindalco Industries (up 0.85%), JSW Steel (up 0.52%), Hindustan Zinc (up 0.38%), National Aluminium Company (up 0.37%), Vedanta (up 0.37%) and Steel Authority of India (up 0.31%), edged higher. Tata Steel (down 0.25%), NMDC (down 0.79%) and Hindustan Copper (down 1.56%), edged lower.
Most FMCG shares rose. Dabur India (up 1.60%), Colgate Palmolive (India) (up 1.30%), Godrej Consumer Products (up 1.24%), Tata Global Beverages (up 0.76%), Britannia Industries (up 0.41%), Marico (up 0.35%), Bajaj Corp (up 0.28%), Nestle India (up 0.23%), Hindustan Unilever (up 0.10%), edged higher. Procter & Gamble Hygiene & Health Care (down 0.16%), GlaxoSmithKline Consumer Healthcare (down 0.37%) and Jyothy Laboratories (down 1.07%), edged lower.
Alkem Laboratories rose 1.23% after the company said that USFDA has concluded inspection at its Taloja facility. The announcement was made after market hours yesterday, 14 November 2018. Alkem Laboratories said that USFDA had conducted an inspection at the company's Bioequivalence facility located at Taloja, Maharashtra from 8 November 2018 to 14 November 2018. At the end of the inspection, no Form 483 was issued.
Overseas, most Asian shares were trading higher after an improvement in market risk sentiment after British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. The uncertainty surrounding a deal had earlier weighed on risk sentiment.
US stocks closed lower Wednesday, with the Dow Jones Industrial Average logging its longest losing streak in three months, as blue-chip Apple Inc. flirted with bear-market territory.
Meanwhile, US Federal Reserve Chairman Jerome Powell on Wednesday expressed confidence in US economic strength and said that markets will have to get used to the idea that the central bank could raise rates at any time starting in 2019.
On the US data front, the Labor Department said the consumer-price index rose by 0.3%, while core CPI, excluding volatile food and energy prices, rose 0.2%.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
